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USDCAD: short-term wide amplitude oscillation moves up
2022-10-06
1098
Fundamental analysis:
The US dollar remained volatile against the Canadian dollar at 1.36128. Canada's trade account in August was 1.52 billion Canadian dollars, expected to be 3.45 billion Canadian dollars, with a previous value of 4.05 billion Canadian dollars. The monthly rate of construction permit in August was 11.9%, expected to be -0.50%, and the previous value was -6.60%.
USD CAD - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that after the short power shock retreated, the bulls began to reverse and move upward, and continued to climb. The MACD index remained weak in the short area and moved upward, while the RSI index was narrow near the 50 equilibrium line;
Empty turning point: 1.35868
Pressing: 1.36610, 1.37033
Support: 1.35480, 1.35137
Trading strategy: bullish above 1.35868, target 1.36610, 1.37033
The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.
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